QUESTION: For years I have been saving my money in a savings account that is set aside for my funeral. Do you think this is a good idea?
ANSWER: It is very thoughtful of you to set aside money for your final expenses. However, you might want to consider funding your funeral through an insurance policy. A savings account could be depleted by health care costs that have gone sky high. If you need to go to a nursing home, it doesn’t take long for your life savings to be gone. If you set aside money in an insurance policy for your funeral expenses and fall on hard times, you can still qualify for government assistance because your funeral insurance is irrevocable, it can’t be spent for anything else except final expenses and that can even include a monument.
If there is even a possibility nursing home care is in your future, now is the time to fund your funeral cost with an irrevocable funeral insurance policy.
Dengel & Son Mortuary - Crematory 